Tidelands Bank in Mount Pleasant, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Tidelands Bank in Mount Pleasant, South Carolina (SC)
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Tidelands Bank - Overview

  • General
  • FDIC Certificate #: 57594
    Status: Active
    Federal Reserve ID: 3185485
    Bank Holding Company (Regulatory Top Holder): Tidelands Bancshares, Inc. (RSSDID: 3185476, Location: Mount Pleasant, SC)
    Date Established: October 06, 2003
    WWW: http://www.tidelandsbank.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 7 (Domestic: 7, Interstate: No)
    FDIC's unique #: 366253
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: October 06, 2003
    Last Structure Change Effective Date: April 01, 2008
    Last Structure Change Process Date: October 13, 2011
    Last Data Update: October 13, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 875 Lowcountry Boulevard, Mount Pleasant, SC 29464
    County: Charleston
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Columbia Sc
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Charleston-North Charleston, SC (#1440)
    Core Based Statistical Area (CBSA): Charleston-North Charleston-Summerville, SC (#16700)
    CBSA Metro Statistical Area: Charleston-North Charleston-Summerville, SC (#16700)
  • History of Changes
  • Change in Trust Powers
  • Financial Summary
  • Total assets: $532.3 mil
    Equity capital: $28.8 mil
    Deposits held in domestic offices: $446.6 mil
    Return on assets (ROA): -1.50% (-$8.0 mil)
    Quarterly return on assets: -0.05% (-$0.3 mil)
    Return on Equity (ROE): -26.27% (-$7.6 mil)
    Quarterly return on equity: -0.97% (-$0.3 mil)
    Net income: -$8.2 mil
    Quarterly Net income: -$0.1 mil
    Pretax return on assets: -1.54% (-$8,197.3 mil)
    Quarterly Pretax return on assets: -0.14% (-$745.2 mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 74Total employees (full-time equivalent)
  • $532,292Total assets
  • $3,217Cash and due from depository institutions
  • $149Interest-bearing balances
  • $57,146Securities
  • $39,610Federal funds sold & reverse repurchase agreements
  • $369,741Net loans & leases
  • $10,320Loan loss allowance
  • $0Trading account assets
  • $22,150Bank premises and fixed assets
  • $18,906Other real estate owned
  • $0Goodwill and other intangibles
  • $532,292Life insurance assets
  • $21,522All other assets
  • $503,448Total liabilities and capital
  • $446,619Total liabilities
  • $433,176Total deposits
  • $446,619Interest-bearing deposits
  • $98Deposits held in domestic offices
  • 20000.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $34,000Trading liabilities
  • $0Other borrowed funds
  • $2,829Subordinated debt
  • $28,844All other liabilities
  • $28,844Total equity capital
  • $28,844Total bank equity capital
  • $0Perpetual preferred stock
  • $28,396Common stock
  • $34,275Surplus
  • $-33,827Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $417Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $34,292Income earned, not collected on loans
  • $0Earning assets
  • $1,850Long-term assets (5+ years)
  • $466,646Average Assets, year-to-date
  • $70,717Average Assets, quarterly
  • $542,350Volatile liabilities
  • $532,128Insider loans
  • $406,253FHLB advances
  • $534,294Loans and leases held for sale
  • $14,947Unused loan commitments
  • $10,297Tier 1 (core) risk-based capital
  • $28,847Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $4,650Total unused commitments
  • $12,864Restructured Loans and leases
  • $10,141Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $23,138Total interest income
  • $7,545Total interest expense
  • $15,593Net interest income
  • $10,619Provision for loan and lease losses
  • $1,616Total noninterest income
  • $0Fiduciary activities
  • $236Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,380Additional noninterest income
  • $16,767Total noninterest expense
  • $5,805Salaries and employee benefits
  • $2,473Premises and equipment expense
  • $8,489Additional noninterest expense
  • -$10,177Pre-tax net operating income
  • $1,818Securities gains (losses)
  • -$204Applicable income taxes
  • -$8,155Income before extraordinary items
  • $0Extraordinary gains - net
  • -$8,155Net income attributable to bank
  • $0Net charge-offs
  • -$8,155Cash dividends
  • $11,758Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.85%Yield on earning assets
  • 1.58%Cost of funding earning assets
  • 3.27%Net interest margin
  • 0.34%Noninterest income to earning assets
  • 3.51%Noninterest expense to earning assets
  • -1.83%Net operating income to assets
  • -1.50%Return on assets (ROA)
  • -1.54%Pretax return on assets
  • -26.27%Return on equity (ROE)
  • -26.27%Retained earnings to average equity (YTD only)
  • 2.88%Net charge-offs to loans
  • 90.31%Credit loss provision to net charge-offs
  • 0.04%Efficiency ratio
  • 97,432Assets per employee
  • 7.19%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.72%Loss allowance to noncurrent loans
  • 30.09%Noncurrent assets plus other real estate owned to assets
  • 9.99%Noncurrent loans to loans
  • 9.02%Net loans and leases to deposits
  • 82.79%Net loans and leases to core deposits
  • 86.47%Equity capital to assets
  • 5.42%Core capital (leverage) ratio
  • 5.40%Tier 1 risk-based capital ratio
  • 7.10%Total risk-based capital ratio
  • Memoranda
  • $8Average assets
  • $542,350Average earning assets
  • $31,046Average equity
  • $477,505Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $25Managed Assets
  • 1Number of Accounts
  • $25Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $25Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 1Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 7 South Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0366253Tidelands Bank875 Lowcountry Boulevard, Mount Pleasant, SC 29464October 06, 2003Full Service Brick and Mortar
    1444324Summerville Branch1510 Old Trolley Road, Summerville, SC 29485April 20, 2005Full Service Brick and Mortar
    2451801Myrtle Beach Main Office Branch1312 Professional Drive, Myrtle Beach, SC 29577October 11, 2005Full Service Brick and Mortar
    3466319Park West Branch1100 Park West Boulevard, Mount Pleasant, SC 29466June 30, 2007Full Service Brick and Mortar
    4475443Bluffton Branch52 Burnt Church Road, Bluffton, SC 29910May 01, 2008Full Service Brick and Mortar
    5478321Murrells Inlet Branch11915 Plaza Drive, Murrells Inlet, SC 29576June 23, 2008Full Service Brick and Mortar
    6478789West Ashley Branch946 Orleans Road, Charleston, SC 29407July 02, 2007Full Service Brick and Mortar

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